AUSSIE designer Collette Dinnigan is closing her business after 24 years in the fashion industry.

In a statement released this morning she announced that she wants to spend more time with family.

"I have sacrificed a lot of family time in building and maintaining my business," she said. "Now I want balance back in my life with my husband, nine-year-old daughter and baby boy.

"I have met and worked with some of the world's most talented people, as well as realising my own creativity while driving a financially viable, profitable business. I truly feel blessed," she said.

Dinnigan cited the publication of her book, Obsessive Creative, as a factor in the decision to close down.

"I almost feel the publication of my book was a catalyst," she said. "The book is a retrospective of my life and it's made me stop and think about the amazing journey I have had thus far. It crystallised my thinking," she said.

Dinnigan's publicist Deeta Colvin said her decision to close had been "a very difficult one, as she is incredibly passionate about design and her entire business, including all of the people within it, but the hours and travel required to sustain what is necessary to run such a successful international company doesn't allow for the time she and her family need."

Dinnigan is known for her romantic, lingerie-style dresses, delicate lace pieces and intricate beaded gowns, and was the first and only Australian designer to have been invited to show on the prestigious Paris fashion schedule.

Collette Dinnigan with husband Bradley Cocks.Source:News Limited

"Without overstatment, Collette was instrumental in putting the words 'Australia' and 'fashion' on the global map,'' says news.com.au's Melissa Hoyer.

"When Collete was first invited to show as part of the hallowed biannual event that is Paris Fashion Week, even Australians who didn't have a skerrick of interest in frocks stood up and took notice. And they were proud. The world fashion stage is one that is bloody tough so to be even part of the fashion show circus that includes names like Louis Vuitton, Prada, Chanel and Dior was a huge feat.

"To say that spending more time with her husband and young family is above pursuing a fortune and even fame, I think it is one the most admirable and frankly cool things any business person and in this case, mother could have done," she said.